https://www.avient.com/sites/default/files/2021-06/avient-ir-presentation-june-2021-w-non-gaap-recs_0.pdf
These investments also
consider our global footprint, and we are positioned very well and
strategically from a regional perspective.
12
Growth Drivers
2020
Revenue
($ Millions)
Long-Term
Growth Rate
Sustainable Solutions $ 560 8–12%
Healthcare 555 8–10%
Composites / 5G 212 10%
Growth in Emerging Regions 672 5%
Other (GDP growth) 1,784 2–3%
Pro Forma Avient $ 3,783 6.5%
Q 1 2021 P E RFO R MA N CE
U P DAT E
$86
$123
$0.53
$0.89
Q1 2021 – ORGANIC PERFORMANCE
14
Sales Adjusted Operating Income
$991
$1,162
+ 17%
+ 43% + 68%
(1) (1) (1)
Q1 2021 SEGMENT PERFORMANCE
15
CAI
$536
$609
($ in millions)
SEM Distribution
$64
$89
+14%
+39%
$290
$363
$19
$24
+25%
+26%
$185
$217
$22
$34
+17%
+55%
SPECIALTY EBITDA MARGIN EXPANSION
16
CAI
(1) 2018-2020 financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
15.3% 15.2%
16.2%
19.1%
2018 2019 2020 Q1 2021
14.8% 15.2%
17.6%
19.4%
2018 2019 2020 Q1 2021
SEM
• Continued portfolio transformation to
high-growth end markets and
sustainable solutions
• Clariant Masterbatch synergy realization
• Investments in composites and outdoor
high performance applications drive
growth and mix improvements
CAI EBITDA MARGIN EXPANSION
17
Legacy CAI
18.9% 18.9%
21.0%
2019 2020 Q1 2021
Legacy
11.9%
13.8%
17.4%
2019 2020 Q1 2021
• Early synergy capture translating to
the bottom line
• Positive mix with growth in healthcare,
consumer and packaging end-markets
• World-class vitality index of 36%
represents sales from products
introduced in the last five years.
This
innovation drives performance and is
reflective of consistent, strategic
investments in our portfolio…and
people.
2020 Pro forma $991 $86
Sustainable Solutions 15 11% 6
Healthcare 28 22% 6
Composites 6 10% 3
Growth in Emerging Regions 44 30% 10
Other 53 10% 7
Sub-total $1,137 15% $118
FX Impact 25 - 2
Synergies - - 11
Incentives, Travel, Other Employee Costs - - (8)
2021 Actual $1,162 17% $123
Q1 2021 ORGANIC SALES AND OPERATING INCOME
18 (1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
Sales Growth Rate
Operating
Income$ millions
19
Wire & Cable Transportation Industrial Healthcare Packaging Consumer
Q1 2020PF Q1 2021
(2) Financial information is presented on a constant currency basis
(1,2)
(42% of total revenue)
(58% of total revenue)
Q1 END MARKET SALES PERFORMANCE
+17%
+14% +8%
+10%
+8% +22%
+5%
+24%
Q 2 AN D FU LL Y EA R
2021 O U TLO O K
A S O F A P R I L 3 0 , 2 0 2 1 W E B C A S T
$69
$112
$0.42
$0.80
ORGANIC GROWTH PROJECTIONS – Q2
21
Sales Adjusted Operating Income
$870
$1,100
+ 26%
+ 62% + 90%
(1) (1) (1)
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
FULL YEAR GUIDANCE INCREASED
22
Sales Adj.
APPENDIX
Performance
Additives
Pigments
TiO2
12%
Dyestuffs
4%Polyethylene
Nylon
Polypropylene
Other Raw
Materials
Styrenic Block
Copolymer
~1/3 hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
31
• Exiting 2020, the majority of hydrocarbon based raw
material markets were experiencing price inflation
and tight inventory
• Winter Storm Uri in the Gulf Coast caused further
stress on the situation for 2021
• Raw materials most impacted include polyethylene,
polypropylene and nylon
• We purchase over 8,000 different raw materials to
formulate our customized solutions and unique
specifications
Annual Purchases
RAW MATERIAL UPDATE
Based on 2020 pro forma purchases, excludes Distribution business
SEGMENT DATA
U.S. & Canada
50%
26%
16%
Latin America
2020 SEGMENT, END MARKET AND GEOGRAPHY
33
GEOGRAPHY REVENUESEGMENT FINANCIALS
21%Industrial
Building &
Electrical &
END MARKET REVENUE
All data reflects 2020 Pro forma for acquisition of the Clariant Masterbatch business.
(1) The total company sales and EBITDA of $3,783M and $457M, respectively, include intercompany sales eliminations and corporate costs
$2,043M
$331M
$709M
$124M
$1,110M
$70M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$457M$3,783M
35%
14%
Building &
Electrical &
C O L O R , A D D I T I V E S & I N K S
2020 PF REVENUE | $2 .0 BILLION
31%
40%
22%
Latin America
END MARKET REGION
34
2020 figures Pro forma for acquisition of the Clariant Masterbatch business
S P E C I A LT Y E N G I N E E R E D M AT E R I A L S
24%
Wire & Cable(1)
24%
Electrical &
13%
11%
Building &
2020 REVENUE | $709 MILLION
END MARKET
58%
19%
REGION
35
(1) Approximately 50% of Wire and Cable sales are associated with Fiber Optic Cabling
DI S TR IBU T I ON
2020 REVENUE | $1 .1 B ILL ION
25%
20%
14%
Electrical &
Building &
1%
82%
Latin
America
END MARKET REGION
K E Y S U P P L I ER S
36
TOTA L C O M PA N Y R E G I O N A L S A L E S
BY END MARKET
32%
27%
12%
Building &
Electrical &
9%
(16% of sales)
34%
16%Healthcare
17%
Building &
Electrical &
(26% of sales)
2020 figures Pro forma for acquisition of the Clariant Masterbatch business
37
26%
19%
13%
16%
Building &
Electrical &
US &
Canada
(50% of sales)
45%
Building &
Electrical &
2% Wire & Cable
1%
LATAM
(8% of sales)
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
March 31, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Adjusted
Results
Income from continuing operations before income taxes $ 102.6 $ 2.4 $ 105.0
Income tax expense - GAAP (22.9) — (22.9)
Income tax impact of special items — (0.9) (0.9)
Tax adjustments — 1.1 1.1
Net income attributable to noncontrolling interests (0.4) — (0.4)
Net income from continuing operations attributable to Avient shareholders $ 79.3 $ 2.6 $ 81.9
Net income / EPS $ 0.86 0.03 $ 0.89
Weighted-average diluted shares 92.2 92.2 92.2
Reconciliation to Consolidated Statements of Income
March 31, 2021
Operating income - GAAP $ 120.4
Special items in operating income 2.4
Adjusted Operating income $ 122.8
1
Business Segment Operations
March 31,
Year Ended
December 31,
2021 2020 2020 2019 2018
Sales:
Color, Additives and Inks $ 609.3 $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5
Specialty Engineered Materials 216.5 185.3 708.8 745.7 645.8
Distribution 362.7 289.5 1,110.3 1,192.2 1,265.4
Corporate and eliminations (26.2) (19.8) (79.9) (79.0) (76.7)
Sales $ 1,162.3 $ 711.5 $ 3,242.1 $ 2,862.7 $ 2,881.0
Gross margin:
Color, Additives and Inks $ 197.5 $ 89.4 $ 484.4 $ 338.4 $ 353.4
Specialty Engineered Materials 64.7 52.6 207.6 200.2 171.7
Distribution 39.3 33.6 124.0 132.1 125.8
Corporate and eliminations 0.9 (4.1) (31.7) (13.5) (26.1)
Gross margin $ 302.4 $ 171.5 $ 784.3 $ 657.2 $ 624.8
Selling and administrative expense:
Color, Additives and Inks $ 108.7 $ 48.9 $ 303.6 $ 191.0 $ 194.9
Specialty Engineered Materials 30.5 30.3 113.2 116.5 99.4
Distribution 15.3 14.2 54.5 56.7 54.3
Corporate and eliminations 27.5 25.3 123.7 136.2 97.6
Selling and administrative expense $ 182.0 $ 118.7 $ 595.0 $ 500.4 $ 446.2
Operating income:
Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5
Specialty Engineered Materials 34.2 22.3 94.4 83.7 72.3
Distribution 24.0 19.4 69.5 75.4 71.5
Corporate and eliminations (26.6) (29.4) (155.4) (149.7) (123.7)
Operating income $ 120.4 $ 52.8 $ 189.3 $ 156.8 $ 178.6
Earnings before interest, taxes, depreciation and
amortization (EBITDA):
Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8
Specialty Engineered Materials 42.0 29.8 124.4 113.2 95.5
Distribution 24.2 19.5 70.2 75.9 72.2
Corporate and eliminations (24.9) (28.0) (146.2) (144.3) (119.3)
Other income, net 1.5 1.6 24.3 12.1 (12.9)
EBITDA $ 159.0 $ 74.3 $ 328.6 $ 247.0 $ 238.3
EBITDA as a % of Sales:
Color, Additives and Inks 19.1 % 20.0 % 17.0 % 18.9 % 19.4 %
Specialty Engineered Materials 19.4 % 16.1 % 17.6 % 15.2 % 14.8 %
Distribution 6.7 % 6.7 % 6.3 % 6.4 % 5.7 %
2
Reconciliation of Pro Forma EBITDA - Color,
Additives and Inks
Three Months Ended
March 31,
Year Ended
December 31,
2021 2020 2020 2019 2018
Sales:
Color, Additives and Inks $ 609.3 $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5
Clariant MB pro forma adjustments(1) — 279.4 540.4 1,118.6 1,209.8
Pro forma sales $ 609.3 $ 535.9 $ 2,043.3 $ 2,122.4 $ 2,256.3
Operating income:
Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5
Clariant MB pro forma adjustments(1) — 23.0 45.0 72.9 80.3
Pro forma operating income $ 88.8 $ 63.5 $ 225.8 $ 220.3 $ 238.8
Depreciation & amortization:
Color, Additives and Inks $ 27.4 $ 10.9 $ 75.1 $ 42.7 $ 44.3
Clariant MB pro forma adjustments(1) — 15.1 30.1 60.3 61.2
Pro forma depreciation & amortization $ 27.4 $ 26.0 $ 105.2 $ 103.0 $ 105.5
Earnings Before Interest, Taxes, Depreciation
and Amortization (EBITDA):
Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8
Clariant MB pro forma adjustments(1) — 38.1 75.1 133.2 141.5
Pro forma EBITDA $ 116.2 $ 89.5 $ 331.0 $ 323.3 $ 344.3
Pro forma EBITDA as a % of Sales 19.1 % 16.7 % 16.2 % 15.2 % 15.3 %
March 31, 2020
Reconciliation of Pro Forma Adjusted Earnings per
Share Avient
Special
Adjusted
Clariant MB
Pro Forma
Adjustments(1)
Pro Forma
Adjusted
Sales $ 711.5 $ — $ 711.5 $ 279.4 $ 990.9
Operating income 52.8 9.7 62.5 23.0 85.5
Interest expense, net (9.4) — (9.4) (12.8) (22.2)
Other income, net 1.6 (0.1) 1.5 — 1.5
Income taxes (11.9) (1.0) (12.9) (2.4) (15.3)
Net income from continuing operations attributable to
Avient shareholders $ 33.1 $ 8.6 $ 41.7 $ 7.8 $ 49.5
Weighted average diluted shares 86.7
Impact to diluted shares from January 2020 equity offering 6.1
Weighted average diluted shares 92.8
EPS $ 0.53
(1) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition
3
Three Months Ended
June 30, 2020
Reconciliation of Pro Forma Adjusted Earnings per
Share Avient
Special
Adjusted
Clariant MB
Pro Forma
Adjustments(2)
Pro
Forma
Adjusted
Sales $ 609.1 $ — $ 609.1 $ 261.1 $ 870.2
Operating income $ 38.0 $ 9.0 $ 47.0 $ 22.0 $ 69.0
Interest expense, net (16.2) — (16.2) (5.3) (21.5)
Other income, net 9.5 (0.3) 9.2 — 9.2
Income taxes (7.9) 0.7 (7.2) (3.8) (11.0)
Net income attributable to non controlling interests
(0.4) — (0.4) — (0.4)
Net income from continuing operations attributable to
Avient shareholders $ 23.0 $ 9.4 $ 32.4 $ 12.9 $ 45.3
Weighted average diluted shares 91.8
Impact to diluted shares from January 2020 equity offering 15.3
Pro forma weighted average diluted shares 107.1
Pro forma adjusted EPS $ 0.42
(2) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition
Year Ended
December 31,
Reconciliation to Adjusted EBITDA 2020 2019 2018
Net income from continuing operations – GAAP $ 133.8 $ 75.7 $ 87.4
Income tax expense 5.2 33.7 14.4
Interest expense 74.6 59.5 62.8
Debt extinguishment cost — — 1.1
Depreciation and amortization from continuing operations 115.0 78.1 72.6
EBITDA $ 328.6 $ 247.0 $ 238.3
Special items, before tax 66.2 61.7 59.5
Interest expense included in special items (10.1) — —
Accelerated depreciation included in special items (3.2) — (3.0)
Adjusted EBITDA $ 381.6 $ 308.7 $ 294.8
4
December 31, 2020
Reconciliation of Pro Forma Adjusted
Earnings per Share Avient
Special
Adjusted
Clariant MB
Pro Forma
Adjustments(3)
Pro Forma
Adjusted
Sales $ 3,242.1 $ — $ 3,242.1 $ 540.4 $ 3,782.5
Operating income $ 189.3 $ 73.7 $ 263.0 $ 45.0 $ 308.0
Interest expense, net (74.6) 10.1 (64.5) (18.1) (82.6)
Other income, net 24.3 (17.6) 6.7 — 6.7
Income taxes (5.2) (41.4) (46.6) (6.2) (52.8)
Net income attributable to noncontrolling
interests (1.8) — (1.8) — (1.8)
Net income from continuing operations
attributable to Avient shareholders $ 132.0 $ 24.8 $ 156.8 $ 20.7 $ 177.5
Weighted average diluted shares 90.6
Impact to diluted shares from January 2020 equity offering 1.5
Pro forma weighted average diluted shares 92.1
Pro forma adjusted EPS $ 1.93
Reconciliation of Pro Forma Adjusted
EBITDA from continuing operations
Operating income and other income, net $ 213.6 $ — $ 56.1 $ 269.7 $ 45.0 $ — $ 314.7
Depreciation and amortization 115.0 (3.2) 111.8 30.1 141.9
EBITDA from continuing operations $ 328.6 $ 52.9 $ 381.5 $ 75.1 $ 456.6
December 31, 2019
Reconciliation of Pro Forma Adjusted
Earnings per Share Avient
Special
Adjusted
Clariant MB
Pro Forma
Adjustments(1)
Pro Forma
Adjusted
Sales $ 2,862.7 $ — $ 2,862.7 $ 1,118.6 $ 3,981.3
Operating income $ 156.8 $ 71.7 $ 228.5 $ 72.9 $ 301.4
Interest expense, net (59.5) — (59.5) (33.4) (92.9)
Other income, net 12.1 (10.0) 2.1 — 2.1
Income taxes (33.7) (5.9) (39.6) (9.1) (48.7)
Net income attributable to noncontrolling
interests (0.2) — (0.2) — (0.2)
Net income from continuing operations
attributable to Avient shareholders $ 75.5 $ 55.8 $ 131.3 $ 30.4 $ 161.7
Weighted average diluted shares 77.7
Impact to diluted shares from January 2020 equity offering 15.3
Pro forma weighted average diluted shares 93.0
Pro forma adjusted EPS $ 1.74
Reconciliation of Pro Forma Adjusted
EBITDA from continuing operations
Operating income and other income, net $ 168.9 $ — $ 61.7 $ 230.6 $ 72.9 $ — $ 303.5
Depreciation and amortization 78.1 — 78.1 60.3 138.4
EBITDA from continuing operations $ 247.0 $ 61.7 $ 308.7 $ 133.2 $ 441.9
(3) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition
5
Avient IR Presentation - June 2021.pdf
Avient IR Presentation - June 2021 w Non GAAP Recs.pdf
Avient IR Presentation - May 2021 w Non-GAAP Recs.pdf
AVNT First Quarter 2021 Earnings Presentation.pdf
AVNT First Quarter 2021 Earnings Presentation.pdf
AVNT First Quarter 2021 Earnings Presentation.pdf
AVNT First Quarter 2021 Earnings Presentation.pdf
4.29 127pm Q1 21 IR Deck Version non-GAAP Recs (002).pdf
https://www.avient.com/sites/default/files/2021-09/avnt-seaport-conference-presentation.pdf
Microsoft PowerPoint - AVNT Seaport Conference Presentation
AVIENT CORPORATION
S E A P O R T C O N F E R E N C E
(NYSE: AVNT)
A U G U S T 2 4 , 2 0 2 1
DISCLAIMER
2
Forward-Looking Statements
In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Q 2 2021 P E RFO R MA N CE
U P DAT E
$69
$122
$0.42
$0.87
Q2 2021 – ORGANIC PERFORMANCE
10
Sales Adjusted Operating Income
$870
$1,235
+ 42%
+ 77% + 107%
(1) (1) (1)
Q2 2021 SEGMENT PERFORMANCE
11
CAI
$488
$624
($ in millions)
SEM Distribution
$54
$86
+28%
+59%
$239
$404
$15
$24
+69%
+60%
$159
$241
$17
$37
+52%
+118%
SPECIALTY EBITDA MARGIN EXPANSION
12
CAI
(1) 2018-2020 financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
15.3% 15.2%
16.2%
18.5%
2018 2019 2020 YTD 2021
14.8% 15.2%
17.6%
19.1%
2018 2019 2020 YTD 2021
SEM
• Continued portfolio transformation to
high-growth end markets and
sustainable solutions
• Clariant Masterbatch synergy realization
• Investments in composites and outdoor
high performance applications drive
growth and mix improvements
CAI EBITDA MARGIN EXPANSION
13
Legacy CAI
18.9% 18.9%
20.3%
2019 2020 YTD 2021
Legacy
11.9%
13.8%
16.8%
2019 2020 YTD 2021
• Synergy capture translating to the
bottom line
• Positive mix with growth in healthcare,
consumer and packaging end-markets
• World-class vitality index of 35%
represents sales from products
introduced in the last five years.
APPENDIX
Performance
Additives
Pigments
TiO2
Dyestuffs
4%Polyethylene
Nylon
Polypropylene
Other Raw
Materials
29%
Styrenic Block
Copolymer
~1/3 hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
34
• In Q2 2021, several raw material markets
experienced significant price inflation and
tight inventory
o Average cost of hydrocarbon based materials
was up 45% year-over-year and 20%
sequentially
o Average cost of non-hydrocarbon based
materials was up 10% year-over-year and 8%
sequentially
• Additionally, we experienced other supply
chain challenges during Q2 related to raw
material spot purchases, freight constraints
and productivity loss as a result of these
shortages
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2020 pro forma purchases, excludes Distribution business
SEGMENT DATA
U.S. & Canada
50%
26%
Latin America
2021 YTD SEGMENT, END MARKET AND GEOGRAPHY
36
GEOGRAPHY REVENUESEGMENT FINANCIALS
23%
Building and
9%
END MARKET REVENUE
(1) Total company sales and EBITDA of $2,398M and $320M, respectively, include intercompany sales eliminations and corporate costs
All charts reflect YTD financials through June 30
$1,234M
$228M
$457M
$87M
$767M
$48M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$320M$2,398M
14%
34%
21%
Building &
9%
2% Telecommunications
C O L O R , A D D I T I V E S & I N K S
2021 YTD REVENUE | $1 .2 BILL ION
31%
42%
21%
Latin America
END MARKET REGION
37
S P E C I A LT Y E N G I N E E R E D M AT E R I A L S
28%
Building &
2021 YTD REVENUE | $457 MILLION
END MARKET
54%
26%
REGION
38
DI S TR IBU T I ON
27%
22%
Building and
81%
Latin
America
END MARKET REGION
K E Y S U P P L I ER S
2021 YTD REVENUE | $767 MILLION
39
TOTA L C O M PA N Y R E G I O N A L S A L E S
BY END MARKET
30%
27%Healthcare
Building &
2% Energy
(16% of sales)
32%
13%
18%
Building &
(26% of sales)
40
25%
19%
Building &
US &
Canada
(50% of sales)
13%
40%
33%
Building &
LATAM
(8% of sales)
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
June 30, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Special
Adjusted
Operating income $ 108.1 $ 14.2 $ 122.3
Income from continuing operations before income taxes $ 89.8 $ 14.2 $ 104.0
Income tax expense - GAAP (20.4) — (20.4)
Income tax impact of special items — (3.4) (3.4)
Tax adjustments — 0.9 0.9
Net income attributable to noncontrolling interests (0.6) — (0.6)
Net income from continuing operations attributable to Avient shareholders $ 68.8 $ 11.7 $ 80.5
Net income / EPS $ 0.74 $ 0.13 $ 0.87
Weighted-average diluted shares 92.4 92.4 92.4
September 30, 2020
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Special
Adjusted
Operating income $ 33.5 $ 40.4 $ 73.9
Income from continuing operations before income taxes $ 5.3 $ 50.0 $ 55.3
Income tax expense - GAAP (2.7) — (2.7)
Income tax impact of special items — (12.7) (12.7)
Tax adjustments — 3.0 3.0
Net income attributable to noncontrolling interests (0.9) — (0.9)
Net income from continuing operations attributable to Avient shareholders $ 1.7 $ 40.3 $ 42.0
Net income / EPS $ 0.02 $ 0.44 $ 0.46
Weighted-average diluted shares 91.9 91.9 91.9
Three Months Ended
Year Ended
December 31,
Reconciliation to Pro Forma Adjusted EBITDA
2021
March 31,
2021
June 30,
2020 2020 2019
Net income from continuing operations – GAAP $ 69.4 $ 79.7 $ 23.4 $ 133.8 $ 75.7
Income tax expense 20.4 22.9 7.9 5.2 33.7
Interest expense 19.5 19.3 16.2 74.6 59.5
Depreciation and amortization from continuing operations 33.8 37.1 20.9 115.0 78.1
EBITDA $ 143.1 $ 159.0 $ 68.4 $ 328.6 $ 247.0
Special items, before tax 14.2 2.4 2.4 66.2 61.7
Interest expense included in special items — — (0.5) (10.1) —
Depreciation and amortization included in special items 1.4 (0.5) (1.2) (3.2) —
Adjusted EBITDA $ 158.7 $ 160.9 $ 69.1 $ 381.6 $ 308.7
Clariant MB pro forma adjustments(1) — — 37.0 75.1 133.2
Pro forma adjusted EBITDA $ 158.7 $ 160.9 $ 106.1 $ 456.7 $ 441.9
(1) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
1
Reconciliation of EBITDA by Segment
Six
Months
Ended
December 31,
2021 2020 2021 2020 2019 2018
Sales:
Color, Additives and Inks $ 624.4 $ 226.8 $ 1,233.7 $ 483.3 $ 1,502.9 $ 1,003.8
Specialty Engineered Materials 240.6 158.8 457.1 344.1 708.8 745.7
Distribution 404.4 238.8 767.1 528.3 1,110.3 1,192.2
Corporate and eliminations (34.2) (15.3) (60.4) (35.1) (79.9) (79.0)
Sales $ 1,235.2 $ 609.1 $ 2,397.5 $ 1,320.6 $ 3,242.1 $ 2,862.7
Operating income:
Color, Additives and Inks $ 86.3 $ 32.3 $ 175.1 $ 180.8 $ 147.4 $ 158.5
Specialty Engineered Materials 37.3 17.0 71.5 94.4 83.7 72.3
Distribution 23.7 14.6 47.7 69.5 75.4 71.5
Corporate and eliminations (39.2) (25.9) (65.8) (155.4) (149.7) (123.7)
Operating income $ 108.1 $ 38.0 $ 228.5 $ 189.3 $ 156.8 $ 178.6
Items below OI in Corporate:
Other income, net $ 1.2 $ 9.5 $ 2.7 $ 24.3 $ 12.1 $ (12.9)
Depreciation & amortization:
Color, Additives and Inks $ 25.3 $ 10.6 $ 52.6 $ 75.1 $ 42.7 $ 44.3
Specialty Engineered Materials 8.1 7.6 15.9 30.0 29.5 23.2
Distribution 0.2 0.1 0.4 0.7 0.5 0.7
Corporate and eliminations 0.2 2.6 2.0 9.2 5.4 4.4
Depreciation & Amortization $ 33.8 $ 20.9 $ 70.9 $ 115.0 $ 78.1 $ 72.6
EBITDA:
Color, Additives and Inks $ 111.6 $ 42.9 $ 227.7 $ 255.9 $ 190.1 $ 202.8
Specialty Engineered Materials 45.4 24.6 87.4 124.4 113.2 95.5
Distribution 23.9 14.7 48.1 70.2 75.9 72.2
Corporate and eliminations (39.0) (23.3) (63.8) (146.2) (144.3) (119.3)
EBITDA $ 143.1 $ 68.4 $ 302.1 $ 328.6 $ 247.0 $ 238.3
EBITDA as a % of Sales:
Color, Additives and Inks 17.9 % 18.9 % 18.5 % 17.0 % 18.9 % 19.4 %
Specialty Engineered Materials 18.9 % 15.5 % 19.1 % 17.6 % 15.2 % 14.8 %
Distribution 5.9 % 6.2 % 6.3 % 6.3 % 6.4 % 5.7 %
2
Reconciliation of Pro Forma EBITDA
- Color, Additives and Inks
Three Months Ended
June 30,
Six
Months
Ended
Year Ended
December 31,
2021 2020 2021 2020 2019 2018
Sales:
Color, Additives and Inks $ 624.4 $ 226.8 $ 1,233.7 $ 1,502.9 $ 1,003.8 $ 1,046.5
Clariant MB pro forma
adjustments(1) — 261.1 — 540.4 1,118.6 1,209.8
Pro forma sales $ 624.4 $ 487.9 $ 1,233.7 $ 2,043.3 $ 2,122.4 $ 2,256.3
Operating income:
Color, Additives and Inks $ 86.3 $ 32.3 $ 175.1 $ 180.8 $ 147.4 $ 158.5
Clariant MB pro forma
adjustments(1) — 22.0 — 45.0 72.9 80.3
Pro forma operating income $ 86.3 $ 54.3 $ 175.1 $ 225.8 $ 220.3 $ 238.8
Depreciation & amortization:
Color, Additives and Inks $ 25.3 $ 10.6 $ 52.6 $ 75.1 $ 42.7 $ 44.3
Clariant MB pro forma adjustments(1) — 15.0 — 30.1 60.3 61.2
Pro forma depreciation & amortization $ 25.3 $ 25.6 $ 52.6 $ 105.2 $ 103.0 $ 105.5
EBITDA
Color, Additives and Inks $ 111.6 $ 42.9 $ 227.7 $ 255.9 $ 190.1 $ 202.8
Clariant MB pro forma
adjustments(1) — 37.0 — 75.1 133.2 141.5
Pro forma EBITDA $ 111.6 $ 79.9 $ 227.7 $ 331.0 $ 323.3 $ 344.3
Pro forma EBITDA as a % of Sales 17.9 % 16.4 % 18.5 % 16.2 % 15.2 % 15.3 %
Three Months Ended
June 30, 2020
Reconciliation of Pro Forma Adjusted Earnings per
Share Avient
Special
Adjusted
Clariant MB
Pro Forma
Pro Forma
Adjusted
Sales $ 609.1 $ — $ 609.1 $ 261.1 $ 870.2
Operating income $ 38.0 $ 9.0 $ 47.0 $ 22.0 $ 69.0
Interest expense, net (16.2) — (16.2) (5.3) (21.5)
Other income, net 9.5 (6.6) 2.9 — 2.9
Income taxes (7.9) 0.2 (7.7) (3.8) (11.5)
Net income attributable to noncontrolling interests (0.4) — (0.4) — (0.4)
Net income from continuing operations attributable to
Avient shareholders $ 23.0 $ 2.6 $ 25.6 $ 12.9 $ 38.5
Weighted average diluted shares 91.8
Pro forma adjusted EPS $ 0.42
3
December 31, 2020
Reconciliation of Pro Forma Adjusted
Earnings per Share Avient
Special
Adjusted
Clariant MB
Pro Forma
Pro Forma
Adjusted
Sales $ 3,242.1 $ — $ 3,242.1 $ 540.4 $ 3,782.5
Operating income $ 189.3 $ 73.7 $ 263.0 $ 45.0 $ 308.0
Interest expense, net (74.6) 10.1 (64.5) (18.1) (82.6)
Other income, net 24.3 (17.6) 6.7 — 6.7
Income taxes (5.2) (41.4) (46.6) (6.2) (52.8)
Net income attributable to noncontrolling
interests (1.8) — (1.8) — (1.8)
Net income from continuing operations
attributable to Avient shareholders $ 132.0 $ 24.8 $ 156.8 $ 20.7 $ 177.5
Weighted average diluted shares 90.6
Impact to diluted shares from January 2020 equity offering 1.5
Pro forma weighted average diluted shares 92.1
Pro forma adjusted EPS $ 1.93
December 31, 2019
Reconciliation of Pro Forma Adjusted
Earnings per Share Avient
Special
Adjusted
Clariant MB
Pro Forma
Pro Forma
Adjusted
Sales $ 2,862.7 $ — $ 2,862.7 $ 1,118.6 $ 3,981.3
Operating income $ 156.8 $ 71.7 $ 228.5 $ 72.9 $ 301.4
Interest expense, net (59.5) — (59.5) (33.4) (92.9)
Other income, net 12.1 (10.0) 2.1 — 2.1
Income taxes (33.7) (5.9) (39.6) (9.1) (48.7)
Net income attributable to noncontrolling
interests (0.2) — (0.2) — (0.2)
Net income from continuing operations
attributable to Avient shareholders $ 75.5 $ 55.8 $ 131.3 $ 30.4 $ 161.7
Weighted average diluted shares 77.7
Impact to diluted shares from January 2020 equity offering 15.3
Pro forma weighted average diluted shares 93.0
Pro forma adjusted EPS $ 1.74
4
AVNT Seaport Conference Presentation.pdf
AVNT Q2 2021 Earnings Presentation - Website.pdf
AVNT Q2 2021 Earnings Presentation - Website.pdf
Final - 7.19 1158am Q2 21 IR Deck Version v2
https://www.avient.com/sites/default/files/2021-02/avient-ir-presentation-goldman-sachs-and-morgan-stanley.pdf
Purchase price multiple rapidly
declining on strength of business and
synergy capture
(1) (1) (1)
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
13
SEM
• Composites and Outdoor High
Performance applications drove
positive mix within SEM
• Clariant Masterbatch synergy
realization under way and
expected to drive further margin
expansion in 2021
• Portfolio transformation to high
growth end markets with focus on
sustainable solutions megatrend
10.1%
11.8%
EBITDA MARGIN EXPANSION
Distribution
6.3% 6.0%
15.2%
17.6%
11.1%
12.1%
14.5%
19.8%
13.5%
16.1%
6.4% 6.3%
15.2% 16.2%
Full YearQ4
(2)
(2) Total company reflects adjusted EBITDA margins
SPOTLIGHT: COMPOSITES
14
• SEM delivers a record year in 2020 – 13%
operating income growth and over 200 bps
in margin expansion year-over-year
• Prior investments in composites platform
and outdoor high performance applications
paying off, resulting in substantial growth
over the last two years
SEM
Operating
Income
(OI % of Sales)
$(0.1) $(1.0)
$2.2
$19.1
$26.8
2016 2017 2018 2019 2020
Composites
Performance
(Operating Income)
$83.7
$94.4
2019 2020
(11.2%)
(13.3%)
0.1 0.1
0.2
0.5
0.6
0.7
0.8
0.9
0.9 1.0
11 12 13 14 15 16 17 18 19 20
$19
$160
$338
2011 2019 2020
0.16
0.20
0.26
0.34
0.42
0.50
0.58
0.72
0.79 0.81
0.85
11 12 13 14 15 16 17 18 19 20 21E
FREE CASH FLOW AND CAPITAL ALLOCATION
15
Free Cash Flow Dividends Share Repurchases Deleveraging
3.5x
2.7x
Growing Dividend Cumulative Buybacks Net Leverage
$B
n
$
p
e
r
sh
ar
e
Cash Generation
~$1Bn
REPURCHASED
OVER LAST 10 YEARS
~$350MM
PAID OVER LAST 10 YEARS
~$338MM 2.7x
NET LEVERAGE
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
GREAT PLACE TO WORK!
SEGMENT HIGHLIGHTS
U.S. & Canada
50%
26%
16%
Latin America
2020 SEGMENT, END MARKET AND GEOGRAPHY
30
GEOGRAPHY REVENUESEGMENT FINANCIALS
21%Industrial
Building &
Electrical &
END MARKET REVENUE
All data reflects 2020 Pro forma for acquisition of the Clariant Masterbatch business.
(1) The total company sales and EBITDA of $3,783M and $457M, respectively, include intercompany sales eliminations and corporate costs
$2,043M
$331M
$709M
$124M
$1,110M
$70M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$457M$3,783M
35%
14%
Building &
Electrical &
C O L O R , A D D I T I V E S & I N K S
2020 PF REVENUE | $2 .0 BILLION
31%
40%
22%
Latin America
END MARKET REGION
31
2020 figures Pro forma for acquisition of the Clariant Masterbatch business
S P E C I A LT Y E N G I N E E R E D M AT E R I A L S
24%
Wire & Cable(1)
24%
Electrical &
13%
Transporation
11%
Building &
2020 REVENUE | $709 MILLION
END MARKET
58%
19%
REGION
32
(1) Approximately 50% of Wire and Cable sales are associated with Fiber Optic Cabling
DI S TR IBU T I ON
2020 REVENUE | $1 .1 B ILL ION
29%
25%
20%
14%
Electrical &
Building &
1%
82%
Latin
America
END MARKET REGION
K E Y S U P P L I ER S
33
AMERICAS EMEA ASIA
26%
19%
13%
16%
Building &
Electrical &
34%
16%Healthcare
17%
Building &
Electrical &
32%
27%
12%
Building &
Electrical &
9%
2020 figures Pro forma for acquisition of the Clariant Masterbatch business
TOTA L C O M PA N Y R E G I O N A L S A L E S
BY END MARKET
(58% of sales) (26% of sales) (16% of sales)
34
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/2022-04/Avient Q1 2022 Earnings Release.pdf
The webcast can be
viewed at avient.com/investors, or by clicking here: https://edge.media-
server.com/mmc/p/edkwvu9r.
http://www.avient.com/investors
https://edge.media-server.com/mmc/p/edkwvu9r
https://edge.media-server.com/mmc/p/edkwvu9r
http://www.avient.com/investors
https://www.avient.com/
3
Forward-looking Statements
In this press release, statements that are not reported financial results or other historical
information are “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995.
https://www.avient.com/sites/default/files/resources/POL%2520Gabelli%2520IR%2520Presentation%2520w%2520Non-GAAP%252003%252020%25202014.pdf
Use of Non-GAAP Measures
Page 3
PolyOne Commodity to Specialty Transformation
Page 4
• Continue specialty
transformation
• Targeting $2.50
Adjusted EPS by
2015, nearly
double 2013 EPS
• Drive double digit
operating income
and adjusted EPS
growth
• 17 consecutive
quarters of double-
digit adjusted EPS
growth
• Shift to faster
growing, high
margin, less cyclical
end markets
• Key acquisitions
propel current and
future growth, as
well as margin
expansion
• Established
aggressive 2015
targets
• Steve Newlin
Appointed,
Chairman, President
and CEO
• New leadership
team appointed
• Implementation of
four pillar strategy
• Focus on value
based selling,
investment in
commercial
resources and
innovation to drive
transformation
• Volume driven,
commodity
producer
• Heavily tied to
cyclical end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2013 2014 and beyond
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
PolyOne S&P 500 Russell 2000 Dow Jones Chemical
All time high of
$38.38
March 7th, 2014
• 17 consecutive quarters of
double digit EPS growth
• 49% CAGR adjusted EPS
expansion 2006-2013
• 2013 stock price increased
73% versus 30% growth in the
S&P
• More than seven fold increase in
market cap: $0.5b $3.6b
Strategy and Execution Drive Results
Page 5
Appliance
4%
Building &
Construction
13%
Wire & Cable
9%
Electrical &
Electronics
5%
Consumer
10%Packaging
16%
Industrial
12%
HealthCare
11%
Transportation
18%
Misc.
2%
United
States
66%
Europe
14%
Canada
7%
Asia
6%
Latin
America
7%
PP&S
Specialty
53%
Distribution
27%
0.12
0.27 0.21
0.13
0.68
0.82
1.00
1.31
2.50
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
$2.50
2006 2007 2008 2009 2010 2011 2012 2013 2015
Target
Ad
ju
st
ed
E
ar
ni
ng
s P
er
S
ha
re
2013 Revenues: $3.8 Billion
End Markets
2013 Revenues: $3.8 Billion
EPS
Page 6
PolyOne
At A Glance
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
2%
34% 43%
62%
65-
75%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 2015
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
Specialty OI $5M $46M $87M $195M Target
Mix Shift Highlights Specialty Transformation
2015
Target
Page 7
2006 2013 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 12.2% 12 – 16%
Global Specialty Engineered
Materials 1.1% 9.3% 12 – 16%
Designed Structures & Solutions -- 5.6% 8 – 10%
Performance Products &
Solutions 5.4% 7.2% 9 – 12%
Distribution 2.6% 5.9% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 62% 65 – 75%
3) ROIC* (after-tax) 5.0% 9.1% 15%
4) Adjusted EPS Growth N/A 31% Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Page 8
Bridge To $2.50 Adjusted EPS By 2015
2015 EPS: $2.50
2013 EPS: $1.31
Mid single digit
revenue CAGR
Page 9
Mergers & Acquisitions
Spartech accretion
Incremental share buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation &
Mix Improvement
Innovation Drives Earnings Growth
$20.3
$52.3
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
*Percentage of Specialty Platform revenue from products introduced in last five years
Page 10
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Page 11
Unique and Innovative Solutions that Help
Customers Win
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
Net Debt / EBITDA* = 1.8x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Significant Debt Maturities
As of December 31, 2013
($ millions)
Page 12
Coupon Rates: 7.500% 7.375% 5.250%
Debt Maturities & Pension Funding – 12/31/13
*TTM 12/31/2013 ** includes US-qualified plans only
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2013
Pension Funding**
As of December 31, 2013
Free Cash Flow and Strong Balance Sheet Fund Investment
•Targets that expand our:
• Specialty offerings
•End market presence
•Geographic footprint
•Operating Margin
• Synergy opportunities
•Adjacent material solutions
•Expanding our sales,
marketing, and technical
capabilities
• Investing in operational and
LSS initiatives (including
synergy capture)
•Manufacturing alignment Organic
Growth
Share
Repurchases
Dividends
Acquisitions
Page 13
$0.16
$0.20 $0.24
$0.32
$0.00
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
• Repurchased ~5 million
shares in 2013
• 15 million shares
are available for
repurchase under
the current
authorization
The New PolyOne: A Specialty Growth Company
2015 Target: $2.50 Adjusted EPS
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/AVNT February IR Presentation_w_Non-GAAP Recs.pdf
Avient corporation first quarter 2023 results
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
F E B R UA RY 2 0 2 4
DISCLAIMER
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Continue fostering our Great
Place to Work® culture
Strategic Objectives
Long Term
Growth
Rates
Growth Drivers
$340
$455
$790
$1,135
$51 $84
$212
$645
$108 $113
$231 $230
$265
$358
$726 $725
8-12% 8-10% 8-10% 5%
Sustainable Solutions Composites Healthcare Asia/Emerging Regions
Profitable Growth Great Place to Work
5.4%
10.9%
16.0%
2006 2014 2023
EBITDA Margins
$0.14
$1.93
$2.36
2006 2014 2023
TOP-TIER SUSTAINABILITY PERFORMANCE
AND RECOGNITION
Industry Sustainability Standards
ESG Ratings Performance
1
4
87th
94th
percentile
5
Avient CDP Score:
A-
FE BRUARY 14 , 2024
W E BCAS T
P RE S E N TAT I O N
DR.
PY
$790
$719
$107
$114
Sales Adjusted EBITDA
$0.42
$0.52
- 9% + 7% + 24%
Sales Adjusted EBITDA Adjusted EPS
15
Q4 2023 SEGMENT PERFORMANCE
16
CAI
$491
$459
Sales
$70
$84
SEM
$301
$260
Sales
$55
$49
- 7% - 14%+20% - 11%
Q4 EBITDA BRIDGE
17
$ millions
CAI:
Price / Mix 11
Deflation 14
SEM:
Price / Mix 4
Deflation 9
Net Price Benefit 38
Cost Reductions 13
Wage Inflation (8)
Other (2)
Q4 2023 $114
Adjusted
Q4 2022 $ 107
Demand (34) • Demand was down, but less than in previous
quarters, due to slowing pace of destocking
• Positive net price benefit:
o CAI – Pricing flat with favorable mix from
uptick in packaging and consumer end
markets and raw material deflation
o SEM - Pricing flat with favorable mix from
Composites and raw material deflation
• Cost reductions primarily driven by reduced
administrative costs and cost synergies
2024 G U I DAN CE
2024 GUIDANCE
Full Year 2024 Guidance
Adjusted EBITDA $505 to $535 million
Adjusted EPS $2.40 to $2.65
Interest Expense $105 to $110 million
Adjusted Effective Tax Rate 23% to 25%
Capital Expenditures ~$140 million
19
Q1 Adjusted EPS of $0.68
AP P E N DI X
21
Performance
Additives
15%
Pigments
TiO2
Dyestuffs
Polyethylene
10%Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
38%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
RAW MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
2023 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
23%Industrial
Building and
END MARKET REVENUE
$2,007M $358M
$1,138M $224M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$502M$3,143M
(1)
23
(1) Total company sales and adjusted EBITDA of $3,143M and $502M, respectively, include intercompany sales eliminations and corporate costs
2023 REVENUE | $2 .0 BILLION
34%
37%
21%
END MARKET REGION
24
34%
21%
15%
Building &
1% Energy
COLOR, ADDITIVES & INKS
2023 REVENUE | $1 .1 BILLION
52%
35%
25
6%Industrial
12%
10% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
26%
Building &
6%
2% Defense
1%
(18% of sales)
2023 AVIENT REGIONAL SALES
25%
Building &
(36% of sales)Transportation
22%
Building &
12%
6%
US &
Canada
(41% of sales)
59%
22%
Building &
LATAM
(5% of sales)
26
BY END MARKET
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/resources/POL%2520BofA%2520Basic%2520Materials%2520IR%2520Presentation%2520w%2520non-GAAP%252012%252011%25202013.pdf
Use of Non-GAAP Measures
Page 3
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
PolyOne S&P 500
All time high of
$34.47
December 9th, 2013
• 16 consecutive quarters of
double digit EPS growth
• 42% CAGR adjusted EPS
expansion 2006-2012
• YTD stock price has increased
63% versus 27% growth in the
S&P
• More than six fold increase in
market cap: $0.5b $3.3b
Strategy and Execution Drive Results
Page 4
The World’s Premier Provider of Specialized
Polymer Materials, Services & Solutions
Four Pillar Strategy
Page 5
PP&S
15%
Specialty
60%
Distribution
25%
0.12
0.27 0.21
0.13
0.68
0.82
1.00
2.50
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
$2.50
2006 2007 2008 2009 2010* 2011* 2012* 2015
Target
Ad
ju
st
ed
E
ar
ni
ng
s P
er
S
ha
re
Appliance
6%
Building &
Construction
13%
Wire & Cable
Electrical &
Electronics
4%
Consumer
Packaging
18%
Industrial
10%
Misc.
5%
HealthCare
Transportation
16%
Textiles
1%
United
States
70%
Europe
14%
Canada
8%
Asia
5%
Latin
America
3%
2012 Revenues: $4.0 Billion*
End Markets*
2012 Revenues: $4.0 Billion*
EPS
Page 6
* Pro Forma includes FY2012 results for Spartech (11/03/12 YE) and Glasforms & excludes discontinued operations
PolyOne
At A Glance
* Restated to exclude discontinued operations
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
2%
34% 43%
63%
65-
75%
0%
20%
40%
60%
80%
100%
2005 2008 2010 YTD 2013 2015
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's PP&S Distribution Specialty
Specialty OI $5M $46M $87M $153M Target
Mix Shift Highlights Specialty Transformation
2015
Target
Page 7
2006 YTD 2013 2015
Where we were Where we are
Organic Consolidated
Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 12.8% 12.8% 12 – 16%
Global Specialty Engineered
Materials 1.1% 10.8% 8.9% 12 – 16%
Designed Structures & Solutions — — 5.0% 8 – 10%
Performance Products &
Solutions 5.5% 8.0% 8.2% 9 – 12%
Distribution 2.6% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 63% 65 – 75%
3) ROIC* (after-tax) 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 28%
Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Page 8
*Percentage of Specialty Platform revenue from products introduced in last five years
19.5%
44.0%
2006 Q3 2013
$20.3
$46.6
2006 TTM
Q3'13
14.3%
31.0%
2006 Q3 2013
Research & Development
Spending
Specialty Platform
Vitality Index Progression*
Innovation Drives Earnings Growth
($ millions)
Specialty Platform
Gross Margin %
Page 9
We are Experts in Polymer Science and Formulation
Polymer Science
Formulation
Chemistry
Processing
Inputs
Base Resins
Additives
Modifiers
Colorants
Specialized
Polymer Materials,
Services, and Solutions
Expertise
Satisfied
Consumers
PolyOne Customer
Innovative
Products & Services
Marketplace Demands
Performance Requirements
Value Drivers
Page 10
Positioned for Strong Growth
2015 Target
Rev: $5B
Adj.
https://www.avient.com/sites/default/files/2024-11/AVNT M11 Investor Presentation_w_Non-GAAP.pdf
Microsoft PowerPoint - AVNT M11 Investor Presentation
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
N OV E M B E R 2 0 2 4
DISCLAIMER
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
For the same reasons, Avient is unable to address the probable significance of the unavailable information.
3
AVIENT OVERVIEW
2023 Financial ResultsCompany Overview Revenue By:
9,300
Employees
102
Manufacturing
Sites
20,000+
Customers
Innovating materials and
processing solutions to solve our
customers’ challenges while
enabling a sustainable world
Broad portfolio of technologies
with market leading positions
and flexibility to anticipate and
meet customer needs
Focus is on organic revenue
growth and margin expansion,
following our successful portfolio
transformation
$3.14B
Revenue
$2.36
Adjusted EPS
$502M
Adjusted EBITDA
16.0%
Adjusted EBITDA Margins
$186M
Adjusted Free Cash Flow
U.S. &
Canada
64%
Specialty
Engineered
Materials
Color
Additives
and Inks
41%
23%
19%
10% 5% 4%
Building &
Energy Telecom
Geography
Segment
Industry
2024 Financial Guidance
$525 to $530 million
Adjusted EBITDA
$2.63 to $2.67
Adjusted EPS
4
Industry Sustainability Standards
ESG Ratings Performance
1
4
87th
94th
percentile
Avient CDP Score:
A-
SUSTAINABILITY PERFORMANCE
AND RECOGNITION
O CTO BE R 3 1 , 2024
W EB CAS T
P RE SE N TATI O N
6
Q3 2024 HIGHLIGHTS
• 8.5% organic sales growth driven by broad-based
growth across all regions and most end markets in both
CAI and SEM segments
• Growth stemmed from gaining share, winning new
product specifications and restocking in certain end
markets
• Both segments expanded YoY EBITDA margins by 40
bps each
• Adjusted EPS of $0.65, an increase of 14% vs the
prior year
• Successfully refinanced $650M outstanding senior
notes due 2025; extending maturity to 2031
• Increased dividend 5% to $1.08 on an annualized
basis; 14th consecutive increase
Adj.
FX +8.5%
FX -0.4%
Total Avient +8.1%
Note: Regional Sales Percentages exclude impact of foreign exchange
COLOR, ADDITIVES & INKS SEGMENT
$487
$522
$89
$97
(in millions) (in millions)
10
+ 7%
(+8% excluding FX)
+ 9%
(+11% excluding FX)
18.3%
+40 bps *18.7%
*
* Adjusted EBITDA Margin %
• Sales growth driven by winning
new product specifications in
consumer & packaging, strong
underlying demand in healthcare
and improving demand in building
& construction
• Favorable mix and raw material
deflation contributed to EBITDA
margin expansion
SPECIALTY ENGINEERED MATERIALS SEGMENT
$268
$295
$51
$57
(in millions) (in millions)
11
• Sales growth driven by restocking
in healthcare & consumer end
markets and strong underlying
demand for composite
applications used in building &
construction, energy and defense
end markets
• Favorable mix contributed to
EBITDA margin expansion
+ 10%
(+10% excluding FX)
+ 12%
(+13% excluding FX)
19.0%
+40 bps *19.4%
*
* Adjusted EBITDA Margin %
2024 G U IDA N CE
FY 2024 GUIDANCE
Previous (Aug 6) Current
Adjusted EPS $2.55 to $2.70 $2.63 to $2.67
Adjusted EBITDA $515 to $540 million $525 to $530 million
Interest Expense $105 million $104 million
Adjusted Effective Tax Rate 23% to 25% 23% to 25%
Capital Expenditures &
Investment in S/4 Hana
~$140 million ~$140 million
13
14
• Investor Day to be held December 4, 2024 at
the NYSE, beginning at 10AM
• The focus will be to do a deep dive on the
Company’s strategy
• Registration available at
www.avient.com/investors
2024 AVIENT INVESTOR DAY
AP P EN D IX
17
Performance
Additives
15%
Pigments
TiO2
Dyestuffs
Polyethylene
10%Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
38%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
RAW MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
41%
2023 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
19%
23%Industrial
Building and
END MARKET REVENUE
$2,007M $358M
$1,138M $224M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$502M$3,143M
(1)
19
(1) Total company sales and adjusted EBITDA of $3,143M and $502M, respectively, include intercompany sales eliminations and corporate costs
2023 REVENUE | $2 .0 B ILL ION
34%
37%
21%
END MARKET REGION
20
34%
21%
15%
Building &
1% Energy
COLOR, ADDITIVES & INKS
2023 REVENUE | $1 .1 B ILL ION
52%
35%
21
6%Industrial
12%
10% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
26%
Building &
6%
2% Defense
1%
(18% of sales)
2023 AVIENT REGIONAL SALES
25%
Building &
(36% of sales)Transportation
22%
Building &
12%
6%
US &
Canada
(41% of sales)
59%
22%
Building &
LATAM
(5% of sales)
22
BY END MARKET
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/resources/POL%2520KeyBanc%2520IR%2520Presentation%2520w%2520non-GAAP%252009%252010%25202013.pdf
Use of Non GAAP Measures
Page 3
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
PolyOne S&P 500
Strategy and Execution Drive Results
Page 4
All time closing high of
$29.48
August 1, 2013
• 15 consecutive quarters of
double digit EPS growth
• 42% CAGR adjusted EPS
expansion 2006-2012
• YTD stock price has
increased 42% versus 20%
growth in the S&P
• 275% increase in market cap:
$0.7b $2.6b since 2006
The World’s Premier Provider of Specialized
Polymer Materials, Services & Solutions
Four Pillar Strategy
Page 5
PP&S
15%
Specialty
Distribution
25%
0.12
0.27 0.21
0.13
0.68
0.82
1.00
2.50
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
$2.50
2006 2007 2008 2009 2010* 2011* 2012* 2015
Target
Ad
ju
st
ed
E
ar
ni
ng
s P
er
S
ha
re
Appliance
6%
Building &
Construction
13%
Wire & Cable
Electrical &
Electronics
4%
Consumer
Packaging
18%
Industrial
10%
Misc.
5%
HealthCare
Transportation
16%
Textiles
1%
United
States
70%
Europe
14%
Canada
8%
Asia
5%
Latin
America
3%
2012 Revenues: $4.0 Billion*
End Markets*
2012 Revenues: $4.0 Billion*
EPS
Page 6
* Pro Forma includes FY2012 results for Spartech (11/03/12 YE) and Glasforms & excludes discontinued operations
PolyOne
At A Glance
* Restated to exclude discontinued operations
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
**Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes discontinued operations
2%
34% 43% 45%
60%
65-
75%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2012 2012 PF** 2015
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's PP&S Distribution Specialty
Specialty OI $5M $46M $87M $114M $150M Target
Mix Shift Highlights Specialty Transformation
2015
Target
Page 7
2006 H1 2013 2015
Where we were Where we are
Organic Consolidated
Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 12.7% 12.6% 12 – 16%
Global Specialty Engineered
Materials 1.1% 10.9% 9.2% 12 – 16%
Designed Structures & Solutions — — 4.4% 8 – 10%
Performance Products &
Solutions 5.4% 8.1% 8.2% 9 – 12%
Distribution 2.6% 6.1% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 62% 65 – 75%
3) ROIC* (after-tax) 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 26%
Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Page 8
*Percentage of Specialty Platform revenue from products introduced in last five years
19.5%
46.5%
2006 Q2 2013
$20.3
$44.7
2006 TTM
Q2'13
14.3%
31.1%
2006 Q2 2013
Research & Development
Spending
Specialty Platform
Vitality Index Progression*
Innovation Drives Earnings Growth
($ millions)
Specialty Platform
Gross Margin %
Page 9
We are Experts in Polymer Science and Formulation
Polymer Science
Formulation
Chemistry
Processing
Inputs
Base Resins
Additives
Modifiers
Colorants
Specialized
Polymer Materials,
Services, and Solutions
Expertise
Satisfied
Consumers
PolyOne Customer
Innovative
Products & Services
Marketplace Demands
Performance Requirements
Value Drivers
Page 10
Positioned for Strong Growth
2015 Target
Rev: $5B
Adj.
https://www.avient.com/sites/default/files/2023-07/Avient_CodeConduct_2023_Spain_0.pdf
P: Vi algo en la empresa que parecía violar el Código.
P: Yo uso un ordenador portátil cuando viajo
por asuntos de negocios.
P: Uno de nuestros clientes nos ha sido
fiel mientras resolvíamos una serie de
problemas.